Some analysts have been puzzling over the high price Buffett agreed to pay for Burlington Northern Santa Fe (BNI). He paid $100 a share for a company that has earned $5.38 over the last 12 months for a trailing multiple of…
Human nature, in no form of it, could ever bear prosperity. – John Adams Letter to Thomas Jefferson, quoted in David Brooks “The Next Culture War” Over the past few years, however, there clearly has been an erosion in the…
I learned more about option trading strategy by playing poker than I did in all my college economics courses combined. – Jeff Yass, The New Market Wizards: Conversations With America’s Top Traders (1992), p. 396 – Yass majored in economics…
New York Magazine has an interesting profile of popular financial blog Zero Hedge: “The Dow Zero Insurgency”.
The Pfizer unit Pharmacia & Upjohn pleaded guilty to a single felony charge that accused the company of marketing its anti-inflammatory drug Bextra for broader uses and higher dosages than those approved by the Food and Drug Administration. – “In…
My sales from ’88 to ’92 were $10,000 to $13,000 a month, and the cost of goods was only $1,000 to $2,000 a month. Then they started putting out so much product, raising the price on packs and putting chase…
It’s dramatic. You have a state that was booming and has been a leader in population growth for the last 100 years that suddenly has seen a substantial shift. – Stanley Smith, Economics Professor, University of Florida, who compiled the…
One of the biggest players in the hot area of high-frequency trading is one of the least known. Getco LLC, a private company with fewer than 250 employees, often accounts for 10% to 20% of the daily trading volume of…
Source: “A Global Surge In Tiny Loans Spurs Credit Bubble in a Slum” (subscription required), The Wall Street Journal, August 13, A1
I want you to know that I had no role whatsoever in any of the Fed’s decision regarding payments to any of A.I.G.’s creditors or counterparties. – Hank Paulson, testimony before Congress July 2009 But according to two senior government…